FundingU.K.
12(1)The Secretary of State [F1and the Northern Ireland Department] must [F2, between them,] pay to the OEP such sums as [F3they consider] are reasonably sufficient to enable the OEP to carry out its functions.
(2)The Secretary of State [F4, or the Northern Ireland Department,] may provide further financial assistance to the OEP (including by way of grants, loans, guarantees or indemnities) subject to such conditions as the Secretary of State [F5, or that department,] may determine.
Textual Amendments
F1Words in Sch. 1 para. 12(1) inserted (28.2.2022) by Environment Act 2021 (c. 30), s. 147(6)(7), Sch. 3 para. 29(7)(a)(i) (with s. 144); S.R. 2022/54, art. 2(1)(a)
F2Words in Sch. 1 para. 12(1) inserted (28.2.2022) by Environment Act 2021 (c. 30), s. 147(6)(7), Sch. 3 para. 29(7)(a)(ii) (with s. 144); S.R. 2022/54, art. 2(1)(a)
F3Words in Sch. 1 para. 12(1) substituted (28.2.2022) by Environment Act 2021 (c. 30), s. 147(6)(7), Sch. 3 para. 29(7)(a)(iii) (with s. 144); S.R. 2022/54, art. 2(1)(a)
F4Words in Sch. 1 para. 12(2) inserted (28.2.2022) by Environment Act 2021 (c. 30), s. 147(6)(7), Sch. 3 para. 29(7)(b)(i) (with s. 144); S.R. 2022/54, art. 2(1)(a)
F5Words in Sch. 1 para. 12(2) inserted (28.2.2022) by Environment Act 2021 (c. 30), s. 147(6)(7), Sch. 3 para. 29(7)(b)(ii) (with s. 144); S.R. 2022/54, art. 2(1)(a)
Commencement Information
I1Sch. 1 para. 12 not in force at Royal Assent, see s. 147(3)
I2Sch. 1 para. 12 in force at 17.11.2021 by S.I. 2021/1274, reg. 2(i)